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Oil dips away from mid-2015 highs

SINGAPORE, Jan 3 (Reuters): Oil prices held steady on Wednesday near mid-2015 highs reached the previous session as high output in the United States (US) and Russia balanced tensions from a sixth day of unrest in OPEC member Iran.US West Texas Intermediate (WTI) crude futures CLc1 were at $60.50 a...

Blenders operate strongly for bright varieties

Blenders operated quite strongly for bright varieties at the tea market on Tuesday. However, their support for Medium types, particularly the BOP varieties, were much less owing to which there were fair withdrawals in this category.It was evident throughout the sale that poor liquoring types were being neglected by the...

Dairy prices rise as dry weather crimps NZ production

SYDNEY, Jan 3 (Reuters): International milk prices posted their sharpest rise since May on Wednesday, as supply tightened in the world's largest exporter, New Zealand.The Global Dairy Trade Price Index (GDT) gained 2.2 per cent at the first auction of the year, after the world's biggest dairy processor, Fonterra, dropped...

Gold slips from 3.5-month peak

BENGALURU, Jan 3 (Reuters): Gold eased from an earlier 3.5-month high on Wednesday and was on track for its first day of losses in nearly three weeks as a firmer tone to the dollar pressured assets priced in the US currency. The dollar's late December retreat drove gold sharply higher...

Qatar’s new LNG merger to save $550m in ops cost a year: QP

DOHA, Jan 3 (Reuters): Qatar Petroleum's merger of liquefied natural gas (LNG) producers Qatargas and RasGas will save the company two billion riyals ($550 million) annually in operation costs, QP's chief executive said on Wednesday.The new entity, which is called Qatargas, started operations on January 1. Before the merger, Qatargas...

Petrobras to pay $2.95b to settle US class action over corruption

NEW YORK, Jan 3 (Reuters): Brazil's state-controlled oil company, Petroleo Brasileiro SA, said on Wednesday that it has agreed to pay $2.95 billion to settle a US class action brought by investors who claim they lost money as a result of a corruption scandal.Petrobras, as the company is known, denied...